Economic News

LONDON (AFX) - The UK's leading business lobby group thinks any respite homeowners and industry enjoyed today with the Bank of England's decision to keep its key repo rate unchanged at 4.75 pct will prove short-lived. The Confederation of British Industry said inflationary pressures remain in the system, despite oil prices coming off record highs, that makes a rate rise before the end of the year ...

LONDON (AFX) - The British Chamber of Commerce said today's decision by the Bank of England to keep interest rates unchanged was "right" for British business while a number of uncertainties still surround the economy. "Keeping interest rates unchanged at 4.75 pct is the right decision for British business," said David Kern, economic adviser to the British Chambers of Commerce. ...

(Updating to add analyst comment, gilt prices) LONDON (AFX) - The pound fell after news that the Bank of England's Monetary Policy Committee (MPC) left interest rates unchanged at 4.75 pct for the second month running. Although the decision was expected, markets had priced in about a 35 pct chance of a rate rise because of recent strong economic data and after the central bank surprised markets  ...

LONDON (AFX) - The Bank of England today left its benchmark repo rate unchanged at 4.75 pct. The decision was expected. All 35 economists polled by AFX News expected the nine-member rate-setting Monetary Policy Committee to keep borrowing costs unchanged, though they conceded that the debate at the meeting is likely to have been vigorous and the vote tight. The minutes of the two-day meeting, wh ...

James Chapman, Daily Mail5 October 2006 Gordon Brown's flagship tax and benefit policies are punishing hard work, according to an explosive report. WANT TO KNOW MORE? ADVICE & TIPS: Tax help EXPERTS: Your tax questions answered OTHER STORIES Borrowers braced for rates vote Ryanair £1bn Aer Lingus bid Market report: Thursday 09:30 Pay-as-you-go bin tax on the way Tes ...

This is Money5 October 2006 Borrowers and businesses were nervous ahead of today's Bank of England interest rates decision, although most economists are predicting no change at 4.75%. BANK OF ENGLAND: Economists expects rates to be kept on hold WANT TO KNOW MORE? DATA: The UK economy DEAL FINDER: Cheap fixed mortgages TABLES: Best saving rates OTHER STORIES Ryanair £1bn Aer Lingus bid Market report: Thursday 09:30 Investors dial into Vodafone Halford is child  ...

WASHINGTON (Dow Jones) - Although it appears too good to be true, the U.S. economy appears on the verge of achieving a fabled "soft landing" of moderate growth and gradually lower inflation, said Federal Reserve Vice-Chairman Donald Kohn on Wednesday. "I expect that the continuing adjustment will be relatively benign overall," Kohn said in remarks prepared a business group in New York. "The  ...

HONG KONG (XFN-ASIA) - Share prices were sharply higher in early trade after the Dow Jones Industrial Average closed at another all-time high overnight amid hopes the US Federal Reserve may begin lowering interest rates soon, dealers said. Fed chairman Ben Bernanke said a slowing housing market could be a drag on the US economy, perhaps shaving one percentage point off of gross domestic product g ...

SYDNEY (XFN-ASIA) - National Australia Bank Ltd (NAB) said its business confidence index, which measures expectations for the following quarter, fell to two points in the three months to September from 8 in the June quarter. The index is seasonally adjusted. NAB said overall business conditions, a composite of trading conditions, profitability and employment across the non-farm business sector,  ...

SYDNEY (XFN-ASIA) - The US dollar was lower against the yen and euro here as traders focus on tonight's European Central Bank meeting and the possibility of a 25-basis-point interest rate hike to 3.25 pct, dealers said. At 10.00 am Sydney time (0000 GMT), the US dollar was at 117.78 yen, down from 117.89 in late New York trade overnight, while the euro was at 1.2719 usd, up from 1.2716. Dealers  ...